Total GDP (purchasing power parity) of Australia is worth around $674.9 billion, and is 17th largest in world. In 2008, real gross domestic product growth registered by Australia was around 2.6 percent. In 2009, gross domestic product growth is predicted to remain about 2.1 percent. In fact, annual GDP is expected to hover around 2.4 percent between 2009- 2013. Domestic demand will be major propeller of economic growth for this country in future years.
Australia exports and imports
Total exports made by Australia rose to $21.9 billion in May 2008. Compared to previous year, same time period, Australian exports saw a 19.5 percent improvement. Growth in exports was driven by improved performance of non-rural commodities, which increased by 1.6 percent in May. Rural goods export also did well, and registered a growth of 2.2 percent. Services exports also registered a growth of 0.7 percent in May.